Lionsgate investor revealed

Lionsgate Entertainment has filed with the SEC the contract for its swap of stock for about $100 million of debt. That move not only lowered leverage for the TV/movie production/distribution company, but diluted the holdings of Carl Icahn, who is pursuing a hostile takeover attempt.

The entire $100 million swap was with Kornitzer Capital Management, a $5 billion hedge fund based in Kansas. The hedge fund, managed by John Kornitzer, swapped $36 million of 3.625% notes and $73.7 million of 2.9375% notes for over 16.2 million shares of Lionsgate stock at a conversion price of $6.20 per share.